World Bank approves USD 36.2 mln financial aid to BiH

World Bank approves USD 36.2 mln financial aid to BiH

The World Bank approved a financial aid of USD 36.2 million for Bosnia and Herzegovina on Friday to help the country prevent, detect and respond to the coronavirus pandemic.

The financing covers a range of interventions to strengthen public health services and to safeguard lives and livelihoods overall.

“The World Bank stands with the people of BiH (Bosnia and Herzegovina) during this unprecedented crisis. While the situation is still unfolding, we have managed so far to prepare this initial package to help the country prevent, detect, and respond to the pandemic and provide social assistance to most vulnerable groups”, said Emanuel Salinas, World Bank Country Manager in BiH and Montenegro.

“With the BiH Emergency COVID-19 Project, the relevant authorities in the country will be able to increase isolation capacities in hospitals, obtain new intensive care beds with ventilators, establish newly designated laboratories for testing and procure other medical equipment and material. Furthermore, some 48,000 people that are most affected by the pandemic crisis will receive social assistance benefits”, according to the World Bank’s statement.

In parallel, the World Bank Country Office in Bosnia said, it is working to adjust the existing operations and financing, especially in the health sector, in order to help the authorities to respond to the pandemic-related issues, which also includes providing advice on the likely economic impacts of the developing crisis.

“The World Bank Group, one of the largest sources of funding and knowledge for developing countries, is taking broad, fast action to help developing countries strengthen their pandemic response. We are increasing disease surveillance, improving public health interventions, and helping the private sector continues to operate and sustain jobs. Over the next 15 months, we will be deploying up to $160 billion in financial support to help countries protect the poor and vulnerable, support businesses, and bolster economic recovery, including $50 billion of new IDA resources in grants or highly concessional terms”, the World Bank concludes./ibna